Independent Auditors Report

By Mark Baker,2014-05-16 17:03
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Independent Auditors Report

    Independent Auditor’s Report

We have audited the accompanying financial statements of the governmental activities,

    each major fund, and the aggregate remaining fund information of the XYZ City Board

    of Education, a component unit of the City of XYZ, Alabama, as of and for the year

    ended September 30, 200X, which collectively comprise the Board’s basic financial

    statements as listed in the table of contents. These financial statements are the

    responsibility of the XYZ City Board of Education’s management. Our responsibility is to express opinions on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the

    United States of America and the standards applicable to financial audits contained in

    Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable

    assurance about whether the financial statements are free of material misstatement. An

    audit includes examining, on a test basis, evidence supporting the amounts and

    disclosures in the financial statements. An audit also includes assessing the accounting

    principles used and significant estimates made by management, as well as evaluating the

    overall financial statement presentation. We believe that our audit provides a

    reasonable basis for our opinions.

In our opinion, the financial statements referred to above present fairly, in all material

    respects, the respective financial position of the governmental activities, each major

    fund, and the aggregate remaining fund information of the XYZ City Board of

    Education, as of September 30, 200X, and the respective changes in financial position

    thereof for the year then ended in conformity with accounting principles generally

    accepted in the United States of America.

In accordance with Government Auditing Standards, we have also issued our report

    dated [date of report] on our consideration of the XYZ City Board of Education’s

    internal control over financial reporting and on our tests of its compliance with certain

    provisions of laws, regulations, contracts, grant agreements, and other matters. The

    purpose of that report is to describe the scope of our testing of internal control over

    financial reporting and compliance and the results of that testing, and not to provide an

    opinion on the internal control over financial reporting or on compliance. That report is

    an integral part of an audit performed in accordance with Government Auditing

    Standards and should be read in conjunction with this report in considering the results

    of our audit.

    The Management's Discussion and Analysis and the budgetary comparison information (Exhibits Y and Z) are not required parts of the basic financial statements but are supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it.

    The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by U. S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and is not a

    required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects, in relation to the basic financial statements taken as a whole.



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